Bitcoin Short then Long?
Updated
Weekly resistance block is around 5200 usd. if we go there and find support then wbears have a last line of defense at the upperline. if we reach that and we will fail to push trough, then we can see low levels hitting the chart. If we follow the ABC correction, then we can go to 4800/4700. We have to hold the lower trendline for btc to remain strenght for the bulls. If we fail that we have a last line of defense for bulls at 200 EMA and 618 fib at around 4600/4660. if that does not hold we can see 4100/4200. What do you think from this analysis?
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We can see we touched weekly resistance as described, if we break trendline we can likely fall to 200 ema and 618 fib, and probably see a bounce there. i will long btc at that point ( in the green box!) no financial advise just my own opinions!
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